The U.S. Department of Education makes Federal Direct Graduate PLUS Loans to eligible graduate or professional students to help pay for education expenses not covered by other financial aid.
Requirements
- Complete the FAFSA application
- Be a U.S. citizen or eligible non-citizen
- Be matriculated in a degree program
- Be enrolled at least half-time: five credit hours
- Maintain Satisfactory Academic Progress (SAP)
- You may not have an adverse credit history. If you do, you may still receive a Graduate PLUS loan through one of these options:
- Obtain a credit worthy endorser.
- Document to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.
Interest Rates and Origination Fees for Graduate PLUS Loans
Interest rates and origination fees may change from year to year. These rates and fees are determined by the federal government. Once a loan is accepted however, the interest rate and fee will remain for the life of the loan. For current interest rates and fees visit the Federal Student Aid website.
Loan Limits for Graduate PLUS Loans
Graduate students are considered independent and may borrow up to $20,500 in an unsubsidized Graduate PLUS Loan per year. The aggregate loan limit for a graduate student is $138,500.
Federal Requirements that must be completed before a Graduate PLUS Loan can be processed by SUNY Poly
- Credit Application
- Entrance Counseling
- Loan Agreement (Master Promissory Note)
- Complete PLUS Credit Counseling **
**Will be advised to complete this by federal government if required
Visit the SUNY Poly Financial Aid Forms web page for an information sheet titled Direct Loan Borrowing Process for Students and Parents which outlines the step-by-step instructions for fulfilling loan requirements.
